Discontinuing abruptly will put your life cover and other policy benefits at risk
Do you know what happens to your insurance policy when you stop paying premium? Does it continue to offer insurance cover? Abruptly stopping payment of premium because you are unhappy with the policy or facing a financial crunch— without considering the consequences—is unwise. Here’s a lowdown on the options available should you wish to discontinue a traditional life insurance policy, and how to go about it.
TRADITIONAL PLANS
A traditional life insurance policy is a protection-cum savings plan. It assures the policyholder a payout sum along with bonus on maturity of the policy. Unlike unit-linked plans, which have the option of investing in equities, traditional plans invest only in fixed income instruments and offer a return of around 4-6 per cent.
THE PREMIUM QUESTION
Bu hikaye India Today dergisinin December 04, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye India Today dergisinin December 04, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
WEAVE A STORY
Saree plays muse and material in this modern iteration
SIMPLE LIVING
Spatial planning meets spirituality, and up-cyling meets unconventional design practices, in this Gurgaon home
HARMONY IN DESIGN
Using principles of vaastu coupled with a creative interplay of open and closed spaces, this home in Vadodara is a welcome sight
THE NEW ECO CHIC
This home in Kerala is designed on the principles of climate responsive architecture
Crafting a New Look
A look at five festive artistic finds from Jaipur to brighten your celebrations
NAMES TO KNOW
From homes and offices to banquets and hotels, these architects and designers' approach to design is paving the way for some exciting spaces
CHIC AND COSY
Let your indoor winter wonderland revel in bold bedding, quilted beauties and charming cushions
STEP INTO STYLE
This winter, international collaborations are lending the Indian carpet industry a unique look underfoot
DECK THE HALLS
With this festive array of accessories, cushions and X'mas-themed decoratives
HOME FOR THE HOLIDAYS
Looking for Christmas inspiration? Here are plenty of ideas to steal and products to make it come to life.
